New Wave Group AB (NEWAb.ST) has entered into an agreement to acquire substantially all of the assets of the US based headwear company, Ahead, for $17.4 million in addition to a net asset value adjustment of approximately $5 million.
Ahead is best known for its headwear collections that feature original approaches to logo embroidery options. Founded in 1995, and based in New Bedford, Mass., the company operates four distinct business units; Men’s Apparel, Ahead Headgear, the “Heavy Metal” line of golf accessories and the “Kate Lord TM Collection” of women’s hats, apparel and accessories.
The acquisition will be included in a newly formed subsidiary within New Wave USA Inc. During 2010, Ahead reported sales of close to $32 million with an operating profit (EBIT) of approximately $2.7 million.
The acquisition of Ahead joins the New Wave Group corporate portfolio, as the parent company of Cutter & Buck, Clique, Craft, Orrefors, Kosta Boda among other brands. The transaction is expected to close in the third quarter of 2011 and is subject to customary closing conditions.
“Ahead’s strong market position in the headwear category will be an excellent complement to our business components,” said Torsten Jansson, Managing Director and CEO of New Wave Group. “Ahead has been recognized for revolutionizing headwear in the golf community,” he added.
FREE $10 GIFT CARD with $100 purchase. But don’t wait. Place gift card and items in cart for offer.
Golf News, Source, AheadWeb.com.- Ahead, a leader in branded headwear, apparel and accessories for the golf marketplace, introduces an evolutionary new divot tool called the TurfDoc™. This new divot repair tool allows ball marks to heal quicker due to a shorter prong design.
Industry research has shown that a shorter prong divot tool, along with using it properly, can help ball marks repair up to two weeks quicker," said Jeff Waller, national sales director for Ahead. "We've all seen the contributions non-metal spikes have made to the game. We believe the TurfDoc can contribute in similar ways, especially as more golfers use it and learn how to properly repair their ball marks".
Typical long pronged divot tools can damage roots when used incorrectly. An un-repaired ball mark will heal quicker than one repaired when a long pronged divot tool is used incorrectly. However, a ball-mark left unattended leaves an uneven putting surface. Long divot tools can do more harm than good if golfers improperly twist and lift the soil instead of pulling or pushing the surrounding soil towards the divot. Combining this effort with a shorter prong repair tool significantly reduces root damage.
The Ahead TufrDoc is ergonomically designed with a thumb rest engineered to make divot repairs quick, effective and comfortable. Like all Ahead accessories, the TurfDoc can be customized to include a ball marker with club logo.
The TurfDoc comes in either antique brass or matte nickel with a black rubber coating. In the Kate Lord Line for women, the TurfDoc comes in matte nickel with three different rubber coating colors: bright orange, Carribean blue and hot pink.
The suggested retail is $20.00. Ahead offers a complete collection of both short and long pronged divot tools that can all be customized.
To View the Latest Golf Equipment @ Great Prices Click here !